What is the principal remaining after 20 monthly payments have been made on a $20,000 five-year loan? The annual interest rate is 12% nominal compounded monthly. (a) $10,224 (b) $13,333 (c) $14,579 (d) $16,073 (e) $17,094

Q: Idaho International Inc. borrows $86,600 from a bank at 3.08% compounded semi-annually for 7 years…

A: Here,Compound = Semiannually = 2Present Value = pv = $86,600Interest Rate = r = 3.08 / 2 = 1.54%Time…

Q: A 161,781 loan is being repaid with monthly payments for 8 years. The first payment is 800 and is…

A: A loan is a contract between a lender and a borrower where the lender forwards a fixed amount to the…

Q: Suppose that a company borrows 20,000 for 1 year at a stated rate of interest of 9 percent. What is…

A: Annual percentage rate (APR) if interest is paid to the lender annually = (1 + Stated rate / Number…

Q: A loan of $60000 at j4 = 6% is to be repaid over 20 years with semi-annual payments. a) How much…

A: Amortization refers to the systematic and regular repayment of the loan amount including the…

Q: Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following.…

A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…

Q: Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.)…

A: We need to use compound interest formula to calculate the amount due A=P(1+i)n Where A= amount…

Q: What is the difference on the total interest payments between a 25 year 5.65% fixed rate fully…

A: The objective of the question is to find the difference in total interest payments between a 25-year…

Q: what is the nominal annual rate of interest compounded quarterly if a loan of $25,000 is repaid in…

A: The act in which one person or entity provides funds to another person for defined term and agreed…

Q: A equal principal payment loan of $3000 is amortized by means of 12 quarterly payments, beggining…

A: Loan Amount = $3,000Total Number of Payments = 12Loan Principal Payment = $3,000 ÷ 12 = $250Interest…

Q: 14) A loan of $8000 is to be repaid with monthly payments for three years at 12% interest compounded…

A:

Q: 2. $6500 was borrowed at an interest rate of 12% compounded semi-annually. If the loan is to be paid…

A: Given: Rate of interest(r) =12%p.aRate semi-annually=6%Time (t) =5 yearsTotal No. of…

Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

A: The objective of this question is to find the effective interest rate of a loan that is being paid…

Q: A debt of $31,000 is repaid over 8 years with payments occurring semi-annually. Interest 4%…

A: To solve this question, we first need to determine annual equivalent yield as the compounding period…

Q: If a $27,000 loan is repaid by end of month payments of $640 and interest is at 9% compounded…

A: Loan amount = $ 27000 Monthly payment = $ 640 Interest rate = 9% Monthly interest rate = 9%/12 =…

Q: A debt of $42,000 is repaid over 10 years with payments occurring semi-annually. Interest is 3%…

A: To find the size of the periodic payment, we can use the formula for the present value of an…

Q: You have taken a loan of $76,000.00 for 22 years at 5.2% compounded quarterly  1st-3rd month…

A: Payment refers to the periodic payments which are made in lieu of repayment of a loan. Payment…

Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

A: The objective of the question is to find the effective interest rate of a loan that is being paid…

Q: a 5-year $10,000 loan requiring monthly payments at a fixed rate of 9% is amortized into five-year…

A:

Q: The interest rate on a $57,000 loan is 8.6 % compounded semiannually. Quarterly payments will pay…

A: An amortized loan has been presented with all the details. Several questions follow on the interest…

Q: How much will it cost to purchase an ordinary annuity delivering semiannual payments of $2000 for…

A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

Q: A 10-year $14,600,000 long-term loan from the American Bank. The loan has the following terms: a.…

A: A. Normally companies debt to equity ratio should be either equal or below 2:1 B. Due to high raise…

Q: A car loan of $46,700 is amortized over 8 years by equal end-of-month payments at 2.9% compounded…

A: Ans = 36019.15     =PMT((2.9%/12),8*12,-46700,0) = $ 545.65

Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

A: Month-end payments = $1,450Loan amount = $123,700Number of years = 8 years

Q: JPY Inc borrowed $705,000 for 30 years at a rate of 4.68% APR compounded monthly, with first payment…

A: Given: Particulars Amount Borrowed(PV) 705000 Years 30 APR 4.68%

Q: A loan, amortized over 15 years, is repaid by making payments of $1,900 at the end of every month.…

A: Principal payment refers to the amount of loan that is paid back by the borrower. The loan amount is…

Q: A new loan at 9% compounded quarterly requires quarterly paymets of $727.88 for seven years. Rounded…

A: Interest rate = 9% Quarterly interest rate (r) = 9%/4 = 2.25% Quarterly payment (P) = $727.88 Period…

Q: a. Calculate the interest component of Payment 13. Interest b. Calculate the principal component of…

A: Loan amortization refers to a schedule which is prepared to shows the periodic loan payments, amount…

Q: How much total principal is repaid between the 1st and 7th payment interval of a 4.5-year loan for…

A: Here, Time Period of Loan is 4.5 years Loan Amount (PV) is $4,887 Interest Rate on Loan is 7.4%…

Q: A $14,000 loan is to be amortized for 10 years with quarterly payments of $467.98. If the interest…

A: Given information: Loan amount $14,000 Number of years 10 Paying Quarterly $467.98 Interest rate is…

Q: A debt of $30,000 is repaid over 12 years with payments occurring quarterly. Interest is 9%…

A: Amortization refers to the repayment of loan amount on regular and equal interval. This…

Q: An $80,000 loan is amortized by monthly payments over 25 years. The interest rate charged is 10%…

A: Monthly payment refers to an amount paid every month for the repayment of a loan amount by the…